Ventricular Assist Device Market Overview
Ventricular Assist Device Market size is $1.35 Bn in 2019, growing at a CAGR of 11.8% during the forecast period 2020-2025. Ventricular Assist Device is a mechanical pump used to support heart function and blood flow in individuals who have weakened hearts or cardiac problems. A ventricular assist device (VAD) takes blood from a lower chamber of the heart and helps pump it into the body and vital organs. It is used to support hearts during or after surgery until it recovers, or when a patient is waiting for a heart transplant or can be a long term solution for patients who are not eligible for heart transplant. These devices are implanted in the patient’s body when ventricles fail to perform their function owing to various medical conditions such as Bundle branch block, Myocardial Infarction (MI).
The report: “Ventricular Assist Device Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Ventricular Assist Device Market.
By Type: Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs) and Bi Ventricular Assist Device (BiVAD)
By Therapy Type: Bridge-to-Recovery (BTR) Therapy, Bridge-to-Candidacy (BTC) Therapy, Bridge-to-Transplant (BTT) Therapy, Destination Therapy and Others
By Form: Transcutaneous Ventricular Assist Device and Implantable Ventricular Assist Device
By End User: Hospitals/Clinics, Researchers, Ambulatory Surgical Centers and Others
By Geography: North America, Europe, Asia-Pacific and Rest of the World
- Increased rate of heart attack and stroke leading to cardiovascular deaths is set to propel the growth of the market.
- Increasing developments in the therapy process and increased functional capacity and performance is driving factors for the growth of Ventricular Assist Device market.
- Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
By Type - Segment Analysis
In 2019, Left Ventricular Assist Devices (LVADs) segment dominated the Ventricular Assist Device Market in terms of revenue is estimated to grow at a CAGR of 13.7%. Left Ventricular Assist Devices (LVADs) is implanted during an open-heart surgery, where it receives blood from the left ventricle and delivers it to the aorta. It works along with the patient’s own heart. It is mostly given as a treatment option for patients with end-stage heart failure. Bridge-to-Transplant (BTT) Therapy is the most used therapy type for Left Ventricular Assist Devices (LVADs) to restore the heart failure, eliminating the need for a transplant abetting towards the market’s growth.
Geography - Segment Analysis
In 2019, the North America region dominated Ventricular Assist Device Market in terms of revenue with a market share of 52.1% owing towards owing to the presence of established payers and an increase in the number of cardiovascular disease patients in the region. This growth can be attributed towards the advanced healthcare infrastructure with technological practice, higher spending by citizens on healthcare, growing old age and cardiac patient pool, favorable government policies are key factors in the growth of the Ventricular Assist Device market. Europe is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Ventricular Assist Device Market
- Increase In The Prevalence of Cardiovascular Diseases
According to the World Health Organization, an estimated 17.9 million people die owing to cardiovascular diseases worldwide, each year with 35% of global deaths and 85% of these cardiovascular disease deaths are owing to heart attack and stroke. The increase in the prevalence of Ventricular Assist Device is driving the Ventricular Assist Device Market owing towards the increase of manufacturers focusing on expanding their pipeline to cater to the demand for Ventricular Assist Device treatment. Governments have taken initiatives for developing and manufacturing innovative products for the diagnosis & treatment of Ventricular Assist Device is the other major factor driving growth of the Ventricular Assist Device market.
Challenges – Ventricular Assist Device Market
- Lack Of Low Cost Treatment
The lack of cost effective treatments is restraining the growth of the market. The treatment is very expensive which leads to the increase diseased rate and less affordability rate. The scarcity of low cost treatment hampers the growth of the market owing towards the patients being uncured.
Ventricular Assist Device Industry Outlook
Product Launches was the key strategy of the players in the Ventricular Assist Device Industry. Ventricular Assist Device top 10 companies include Abiomed Inc., BiVACOR Inc, Abbott Laboratories, Medtronic PLC, Terumo Corporation, Asahi Kasei Corporation, Berlin Heart GmbH, Calon Cardio-Technology Ltd., CardiacAssist Technologies, and Jarvik Heart.
- In January 2017, Abbott laboratories acquired St. Jude Medical, Inc. This acquisition helped the company in increasing the production for diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.
- In July 2018, Medtronic PLC launched left ventricular assist devices HVAD System in the U.S. This product is helpful for the patients as it is less invasive and takes less time in curing the surgery.
1. Ventricular Assist Device Market Overview
1.1 Definitions and Scope
2. Ventricular Assist Device Market - Executive Summary
2.1 Market Revenue and Key Trends by Company
2.2 Key trends by Type
2.3 Key trends by Therapy Type
2.4 Key trends by Geography
3. Ventricular Assist Device Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis – Key Companies
3.5 Pricing Analysis
4. Ventricular Assist Device Market - Startup Companies Scenario (Premium)
4.1 Key Startup Company Analysis by
4.1.3 Venture Capital and Funding Scenario
5. Ventricular Assist Device Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. Ventricular Assist Device Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters Five Force Model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Ventricular Assist Device Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. Ventricular Assist Device Market – By Type (Market Size –$Million/$Billion)
8.1 Left Ventricular Assist Devices (LVADs)
8.2 Right Ventricular Assist Devices (RVADs)
8.3 Bi Ventricular Assist Device
9. Ventricular Assist Device Market – By Therapy Type (Market Size –$Million/$Billion)
9.1 Bridge-to-Recovery (BTR) Therapy
9.2 Bridge-to-Candidacy (BTC) Therapy
9.3 Bridge-to-Transplant (BTT) Therapy
9.4 Destination Therapy
10. Ventricular Assist Device Market – By Form (Market Size –$Million/$Billion)
10.1 Transcutaneous Ventricular Assist Device
10.2 Implantable Ventricular Assist Device
11. Ventricular Assist Device Market – By End User (Market Size –$Million/$Billion)
11.3 Ambulatory Surgical Centers
12. Ventricular Assist Device Market - By Geography (Market Size –$Million/$Billion)
12.1 North America
12.2.7 Rest of Europe
12.3.4 South Korea
12.3.5 Australia & New Zealand
12.3.7 Rest of Asia-Pacific
12.4 Rest of the World
12.4.1 Middle East
12.4.3 South America
13. Ventricular Assist Device Market - Entropy
14. Ventricular Assist Device Market – Industry/Segment Competition Landscape (Premium)
14.1 Market Share Analysis
14.1.1 Global Market Share – Key Companies
14.1.2 Market Share by Region – Key companies
14.1.3 Market Share by Countries – Key Companies
14.1.4 Best Practices for Companies
15. Ventricular Assist Device Market – Key Company List by Country Premium (Premium)
16. Ventricular Assist Device Market Company Analysis
16.1 Company 1
16.2 Company 2
16.3 Company 3
16.4 Company 4
16.5 Company 5
16.6 Company 6
16.7 Company 7
16.8 Company 8
16.9 Company 9
16.10 Company 10 and more
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